According to a report in the Sunday Times Business News in London, Boo.com has been sold for $372,500 (250,000 pounds). The buyer of the company, Bright Station, plans on selling Boo.com's technology to companies that want to build business-to-business sites.

JOEL'S OPINION
I just played on Boo.com for a few minutes and have to say that I'm surprised it sold for such a small amount of money. I have to wonder if Bright Station is also taking on some of Boo's debt, too.

Bright Station definitely made the right move as far as future use of the technology goes. A lot of money was invested in making Boo.com work the way it does and it would be a shame to see it all go to waste. Now it will be peddled to other companies who want to make a go at creating an online business of some sort.

From what I've read, the founders and the majority of the staff will not be retained. Makes sense to me. If a company can blow through $125 million and have only about $300,000 worth to show for it, I'd have to agree with leaving the founders out of the next incarnation. We also have a previous news item that goes into more detail about Boo.com blowing through its cash.